FORD Australia has posted a $162 million run of red ink in its last full year as an Australian car manufacturer.
The Broadmeadows-based carmaker today filed its annual report for the 2015 financial year, revealing the costs of winding up its operations were still taking a toll on the company's bottom line. It compares with a $191 million loss posted in the 2014 financial year.
It means the carmaker has accumulated almost $1.5 billion in losses over the last decade.
Ford Australia's filings show it earned $2.76 billion from its sales in 2015, which was only $15 milion more than it earned in the 2014 calendar year. Government grants added $59.5 million to Ford's books.
However, the bottom-line cost of its sales grew significantly, rising $152 million to $2.31 billion for the year.
The other big loss weighing against the result was $300 million spent on research -- Ford Australia will keep its global design and engineering division beyond October's shut-down of its engine and vehicle manufacturing operations.
The report shows that Ford Australia's provisions for warranty claims was also up for the year, rising from $56.0 million in 2014 to $61.2 million last year.
The report is the first one filed using Ford Australia's new Richmond-based headquarters as the official address of the car company.
We're giving away the last great Aussie Holden V8! Enter here for your chance to win!